Crude gains 27 cents

Posted on: November 21, 2016

WTI gained 27 cents at the front of the curve on Friday, settling at $45.69. OPEC members and Russia continue to talk the talk, sparking optimism for meaningful production cuts. Rig counts in the US increased to the most since February, as producers want to be in the ground if OPEC manages to agree on a freeze next week.

Volume should be relatively light this week given US Thanksgiving and the OPEC meeting next week.